What is the effect of an improvement in technology?
A)It will cause a increase in the quantity supplied.
B)It will cause an increase in demand.
C)It will cause a decrease in demand.
D)It will cause an increase in supply.
E)It will cause a decrease in supply.

Question

Quizplus · Accepted Answer

An improvement in technology typically results in an increase in supply, as it allows producers to increase their output or lower their costs of production. This leads to a shift of the supply curve to the right, resulting in a higher quantity supplied at each price point. Therefore, choice D is the correct choice.

What Is the Effect of an Improvement in Technology